Poundland and Pets at Home flotation offer prices unveiled February 28, 2014 Following a string of flotation announcements, IPO details are starting to come in from some companies. High street discount store Poundland has decided on a share offer price range of 250-300 pence, reports Reuters. The amount gives the company an implied market value of £625-750m when it lists on the stock exchange. Poundland is 76 [...]
Poundland hires retail veterans to propel float February 18, 2014 DISCOUNT retailer Poundland yesterday unveiled a heavyweight board lineup and its first female non-executive director as part of plans to float on London’s stock market next month. The Birmingham-based company, which currently has around 500 stores, has recruited former Travelodge chief executive Grant Hearn and Merlin Entertainments group HR director Tea Colaianni, who will become [...]
Reports on bank lending to take the centre stage – London Week Ahead November 23, 2014 THIS week will see a flurry of announcements regarding bank lending. The Bank of England on Thursday will publish the figures for its Funding for Lending scheme, followed by the latest data on the Help-to-Buy scheme the following day. The British Bankers’ Association will publish its figures for mortgage approvals today. That will be backed [...]
Poundland to hire ex-Carpetright boss Shapland February 17, 2014 DISCOUNT retailer Poundland is set to appoint the former boss of Carpetright Darren Shapland as a senior independent director as it prepares to push the button its £750m float. He will join the board as it unveils its decision to float in London, as early as this morning.
Record sales lift Poundland float prospects January 23, 2014 POUNDLAND has boasted record sales over the key Christmas trading period, further paving the way for a potential initial public offering (IPO), expected to take place within the coming months. The bargain chain, which plans to double its UK presence over the next decade, said new shop openings helped sales rise more than 12.4 per [...]
DEAL FRENZY: Pets At Home lines up to follow King, Poundland and ISS to market February 18, 2014 STOCK markets roared back into life yesterday after discount retailer Poundland, Candy Crush Saga producer King Digital Entertainment, and services firm ISS fired the starting gun on flotation plans, with UK pet store Pets at Home expected to follow suit as soon as today. UK retailer Poundland revealed plans to list in London in March, [...]
Maplin appoints Darren Shapland as chairman August 11, 2014 Electrical goods retailer Maplin has appointed Darren Shapland, the new Poundland chairman, as its non-executive chairman. He replaces John Lovering who is retiring. Shapland starts his role next month following the sale of Maplin by Montagu Private Equity to Rutland Partners for £85m in June. Shapland was previously Carpetright chief executive and also held senior [...]
Sainsbury’s needs to shore up the shop – Bottom Line October 1, 2014 In business, timing is everything, and retail moves faster than most businesses. Justin King, Sainsbury’s ex-kingpin, seems to have grasped this better than most when he sailed off into the sunset earlier this year, just as the storm clouds were gathering over the supermarket. Under King’s helm, Sainsbury’s reported a 2.1 per cent rise in [...]
Ordinary investors are losing out in the rush for cut-price flotations October 9, 2014 THE MASS market British Gas and BT privatisations of the 1980s created a whole new generation of investors and, 30 years on, the next generation is waiting in the wings. With many companies – including high profile public brands – keen to save flotation costs, however, retail investors are being ignored and denied the opportunity [...]
Best of the Brokers for 06 June 2014 June 5, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com POUNDLAND JP Morgan, which last month won the joint broking mandate for Poundland, has upgraded the retailer from “neutral” to “overweight” with an unchanged price target of 377p. The broker thinks the effects on Poundland of Tesco’s pound aisle trial are likely to [...]